OLO (NYSE:OLO) Sets New 1-Year High – Should You Buy?

Olo Inc. (NYSE:OLO)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.49 and last traded at $7.49, with a volume of 239 shares trading hands. The stock had previously closed at $7.26.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a report on Friday, November 22nd.

OLO Trading Up 0.4 %

The stock has a market capitalization of $1.19 billion, a PE ratio of -72.89 and a beta of 1.26. The business has a fifty day moving average price of $5.54 and a 200-day moving average price of $5.06.

Insiders Place Their Bets

In related news, COO Joanna G. Lambert sold 67,403 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $330,274.70. Following the completion of the sale, the chief operating officer now directly owns 591,646 shares in the company, valued at $2,899,065.40. This represents a 10.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Peter J. Benevides sold 10,530 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,597.00. Following the transaction, the chief financial officer now owns 414,403 shares in the company, valued at approximately $2,030,574.70. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,148 shares of company stock valued at $554,425 over the last quarter. 39.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OLO

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of OLO by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock valued at $69,940,000 after acquiring an additional 319,544 shares in the last quarter. Renaissance Technologies LLC increased its position in OLO by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after purchasing an additional 171,700 shares during the period. Cubist Systematic Strategies LLC raised its holdings in OLO by 154.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock worth $2,510,000 after purchasing an additional 344,676 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of OLO in the 2nd quarter worth about $249,000. Finally, Clearline Capital LP boosted its stake in shares of OLO by 325.8% during the 2nd quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock valued at $750,000 after purchasing an additional 129,874 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

About OLO

Olo Inc operates an open SaaS platform for restaurants in the United States. The company’s platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands’ on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants’ direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.